The jackpot for the MEGA Millions draw on Fri May 15, 2026, is projected to be $251 Million, with an option for a cash payout of $112.3 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Mexico residents, the state will deduct 5.9% from your lottery earnings.
| New Mexico MEGA Millions Jackpot/Cash Option for Fri May 15, 2026 |
|---|
| Draw Date | Fri May 15, 2026 | | Projected Jackpot | $251,000,000 | | Cash Value | $112,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,300,000 | | Federal Tax(24%) | $26,952,000 | | Additional Federal Tax | $14,559,330 | | State Tax(5.9%) | $6,625,700 | | Net Lumpsum Payment | $64,162,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,777,801 |
$1,358,117
$222,890 |
$2,196,794 |
| 2 |
$3,966,804 |
$1,428,048
$234,041 |
$2,304,715 |
| 3 |
$4,165,094 |
$1,501,415
$245,741 |
$2,417,938 |
| 4 |
$4,373,424 |
$1,578,497
$258,032 |
$2,536,895 |
| 5 |
$4,592,045 |
$1,659,387
$270,931 |
$2,661,727 |
| 6 |
$4,821,710 |
$1,744,363
$284,481 |
$2,792,866 |
| 7 |
$5,062,670 |
$1,833,518
$298,698 |
$2,930,454 |
| 8 |
$5,315,929 |
$1,927,224
$313,640 |
$3,075,065 |
| 9 |
$5,581,738 |
$2,025,573
$329,323 |
$3,226,842 |
| 10 |
$5,860,850 |
$2,128,845
$345,790 |
$3,386,215 |
| 11 |
$6,153,767 |
$2,237,224
$363,072 |
$3,553,471 |
| 12 |
$6,461,493 |
$2,351,083
$381,228 |
$3,729,182 |
| 13 |
$6,784,530 |
$2,470,606
$400,287 |
$3,913,637 |
| 14 |
$7,123,882 |
$2,596,167
$420,309 |
$4,107,406 |
| 15 |
$7,480,051 |
$2,727,949
$441,323 |
$4,310,779 |
| 16 |
$7,854,041 |
$2,866,326
$463,388 |
$4,524,327 |
| 17 |
$8,246,605 |
$3,011,574
$486,550 |
$4,748,481 |
| 18 |
$8,658,998 |
$3,164,160
$510,881 |
$4,983,957 |
| 19 |
$9,091,973 |
$3,324,360
$536,426 |
$5,231,187 |
| 20 |
$9,546,534 |
$3,492,548
$563,246 |
$5,490,740 |
| 21 |
$10,023,936 |
$3,669,187
$591,412 |
$5,763,337 |
| 22 |
$10,525,183 |
$3,854,648
$620,986 |
$6,049,549 |
| 23 |
$11,051,279 |
$4,049,304
$652,025 |
$6,349,950 |
| 24 |
$11,603,981 |
$4,253,803
$684,635 |
$6,665,543 |
| 25 |
$12,184,042 |
$4,468,426
$718,858 |
$6,996,758 |
| 26 |
$12,793,470 |
$4,693,914
$754,815 |
$7,344,741 |
| 27 |
$13,433,018 |
$4,930,547
$792,548 |
$7,709,923 |
| 28 |
$14,104,694 |
$5,179,067
$832,177 |
$8,093,450 |
| 29 |
$14,810,004 |
$5,440,032
$873,790 |
$8,496,182 |
| 30 |
$15,550,454 |
$5,713,998
$917,477 |
$8,918,979 |
|
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